KAMPALA, UGANDA | THE INDEPENDENT | Standard Chartered Bank has been fined 60 million Shillings for cancelling a loan facility it had already granted to a couple. In her ruling, Justice Patricia Mutesi of the High Court found that Standard Chartered Bank errored when it cancelled a mortgage facility it …
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Kampala, Uganda | THE INDEPENDENT | Uganda has managed to reduce the level of spending on loans in terms of the percentage of the Gross Domestic Product (GDP) through restructuring debt and the growth of the economy. Total interest payments as a share of GDP decreased to 3.5 percent at the …
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Kampala, Uganda | THE INDEPENDENT | The Buganda Road Chief Magistrates Court has convicted a credit official for assisting a client in fraudulently obtaining a 200 million shilling loan from Cairo Bank. On Wednesday, Chief Magistrate Ronald Kayizzi found 43-year-old Specioza Nassuna, a resident of Tega Zone in Nabbingo Sub County, …
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Kole, Uganda | THE INDEPENDENT | Leaders of Emyooga SACCOs in Kole district have attributed the poor loan recovery rate to political interference, particularly misinformation about the program. Emyooga, a presidential initiative aimed at promoting job creation and improving household incomes, disbursed funds to 33 SACCOs in Kole district in two …
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Kampala, Uganda | THE INDEPENDENT | Diamond Trust Bank (DTB) Uganda, Airtel Money, and Credable Group have signed a tripartite agreement to enhance financial inclusion in Uganda with the introduction of a mobile-based consumer banking solution called Kwasa Kwasa. This collaboration enables Airtel Money customers to instantly access affordable, short-term loans …
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Kampala, Uganda | THE INDEPENDENT | Housing Finance Bank has emerged as a standout winner at the World Economic Magazine Awards 2024, receiving two prestigious accolades: Best Mortgage Loan Bank Uganda 2024 and Best Customer Service Bank Uganda 2024, it said in a press release. The World Economic Magazine Inc. Awards …
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Kampala, Uganda | THE INDEPENDENT | Uganda has joined the international chorus urging for the reform of international financial architecture. The Deputy Secretary to the Treasury, Patrick Ocailap says reforming the international financial architecture is imperative to give developing countries like Uganda a fair chance to turn its immense potential into …
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Kampala, Uganda | THE INDEPENDENT | Stanbic Bank has announced a new facility that will enable its customers to access an unsecured loan of up to 350 million without any arrangement fees. The campaign dubbed Oil Sorted will be running for the next ninety days. The unsecured loan also covers the …
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Kampala, Uganda | AGENCIES | Telecom firm, Airtel Africa is in talks for a $200 million loan from the International Finance Corporation (IFC), the World Bank’s arm focused on financing private sector ventures in emerging markets. The African subsidiary of Bharti Airtel plans to utilize the funds to cover its capital …
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African Development Bank to fund the construction of the Laropi-Moyo-Afoji and Katuna-Muko-Kamuganguzi road Kampala, Uganda | ISAAC KHISA | Uganda has secured a US$252bn (Approx. Shs 958bn) loan from the African Development Bank to fund the construction of the Laropi-Moyo-Afoji and Katuna-Muko-Kamuganguzi road. The lender’s board of directors approved the loan …
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